Post Utme Mountain Top University 2017 Commerce Question 35

Practice objective / multiple choice question 35 from the 2017 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2017 Commerce Objective / Multiple Choice
Question 35 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • COMMERCE • objective

A business owner wants to understand the concept of opportunity cost. Which of the following definitions best describes it?

Answer Options

A. The cost of producing one unit of a good
B. The cost of producing two units of a good
Correct Answer C. The cost of choosing one option over another
D. The cost of producing a good in a different location
Correct Answer
C
Correct Option:
The cost of choosing one option over another

About This Question

This is Post Utme Mountain Top University 2017 Commerce Question 35. It is one of the objective questions from the 2017 Post Utme Mountain Top University Commerce examination.

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